Key Points
- CEO Scott Keeney sold 200,000 shares for about $8.42 million under a pre-arranged Rule 10b5-1 plan, reducing his stake by 10.2%; he retained 1,760,034 shares.
- nLight reported quarterly EPS of $0.16, beating the $0.05 consensus, while revenue of $73.76 million exceeded estimates and rose 10.5% year over year.
- Analyst sentiment was mostly positive: MarketBeat reported a consensus “Buy” rating and an average price target of $82.06.
nLight (NASDAQ:LASR - Get Free Report) CEO Scott Keeney sold 200,000 shares of the business's stock in a transaction on Monday, November 9th. The stock was sold at an average price of $42.11, for a total transaction of $8,422,000.00. Following the completion of the sale, the chief executive officer owned 1,760,034 shares in the company, valued at approximately $74,115,031.74. The trade was a 10.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
nLight Stock Down 3.2%
LASR opened at $43.06 on Friday. The firm has a 50-day simple moving average of $38.67 and a two-hundred day simple moving average of $57.18. nLight has a 52 week low of $28.05 and a 52 week high of $86.95. The company has a market capitalization of $2.51 billion, a PE ratio of -187.22 and a beta of 2.46.
nLight (NASDAQ:LASR - Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.11. nLight had a negative return on equity of 1.03% and a negative net margin of 4.02%. The firm had revenue of $73.76 million during the quarter, compared to analyst estimates of $68.16 million. During the same quarter last year, the business posted $0.08 earnings per share. The business's quarterly revenue was up 10.5% compared to the same quarter last year. As a group, sell-side analysts expect that nLight will post -0.14 earnings per share for the current year.
Hedge Funds Weigh In On nLight
Institutional investors have recently bought and sold shares of the business. Quantinno Capital Management LP grew its stake in shares of nLight by 0.7% in the 1st quarter. Quantinno Capital Management LP now owns 41,808 shares of the company's stock worth $2,384,000 after buying an additional 281 shares in the last quarter. Krilogy Financial LLC increased its holdings in shares of nLight by 9.1% in the 3rd quarter. Krilogy Financial LLC now owns 7,633 shares of the company's stock worth $292,000 after buying an additional 634 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of nLight by 67.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,783 shares of the company's stock worth $102,000 after buying an additional 721 shares during the last quarter. Diversified Trust Co raised its position in shares of nLight by 3.4% during the 3rd quarter. Diversified Trust Co now owns 29,208 shares of the company's stock valued at $1,138,000 after buying an additional 967 shares in the last quarter. Finally, Activest Wealth Management purchased a new position in nLight in the third quarter worth about $39,000. Institutional investors own 83.88% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on LASR shares. Northcoast Research raised nLight from a "neutral" rating to a "buy" rating and set a $75.00 price target for the company in a research note on Wednesday, October 7th. Wall Street Zen cut nLight from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of nLight in a research note on Thursday, October 15th. Zacks Research raised nLight from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Finally, Needham & Company LLC started coverage on nLight in a report on Tuesday, November 3rd. They set a "buy" rating and a $50.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $82.06.
Check Out Our Latest Stock Report on nLight
nLight Company Profile
(
Get Free Report)
nLIGHT, Inc. develops and manufactures lasers and related photonics products for industrial, aerospace and defense applications. Its offerings include high-power semiconductor lasers, fiber lasers and ultrafast lasers, along with components and systems used to deliver and control laser energy. The company's products support applications such as materials processing and other industrial tasks, as well as defense technologies including directed-energy systems. nLIGHT serves customers in the United States and international markets.
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